Soluna Expands Partnership with Galaxy Digital to Deploy 48 MW at Project Kati
Soluna previously entered into a $5 million loan facility with Galaxy in Q1 2025. With this new deployment, the partnership extends into an operational collaboration.
Project Kati 1 is currently expected to be operational in Q1 2026. This expansion marks Soluna's largest deployment of a single partner to date, following a recent 30 MW rollout with another Top-Tier Bitcoin miner. Galaxy will be the first customer to begin mining operations at Project Kati 1 once construction is complete.
'As demand from hyperscaler miners continues to surge, Soluna is scaling to meet the moment,' said John Belizaire, CEO of Soluna. 'This partnership with Galaxy represents our largest MW deployment to date and underscores how our modular approach allows us to deliver efficient, renewable-powered infrastructure at scale. We're proud to deepen our relationship with Galaxy and help power the next wave of computing.'
Key Deal overview:
48 MW of hosting of Galaxy Bitcoin mining containers and miners
Deployment expected 1Q26 and 2Q26
Turnkey power infrastructure and operations provided by Soluna
'As we transition our Helios campus to an AI and high-performance computing data center, we're pleased to relocate a portion of our existing Bitcoin mining assets to Soluna to manage,' said Sam Kiernan, Business Development Lead at Galaxy.
The company expects that this expansion will bring Soluna's operating capacity to 206 MW once fully deployed.
For more information, visit www.solunacomputing.com
Soluna's glossary of terms can be found here.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as 'will,' 'expects,' 'anticipates,' 'future,' 'intends,' 'plans,' 'believes,' 'estimates,' 'confident' and similar statements. Other examples of forward-looking statements may include, but are not limited to, statements of Soluna's plans and objectives, including with respect to the development of Project Kati and our expectations with respect to the amount of renewable energy capacity Project Kati will deliver. Soluna may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission ('SEC'), in its annual report to shareholders, in press releases and other written materials, and in oral statements made by its officers, directors, or employees to third parties. Statements that are not historical facts, including but not limited to statements about Soluna's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, further information regarding which is included in the Company's filings with the SEC. All information provided in this press release is as of the date of the press release, and Soluna Holdings, Inc. undertakes no duty to update such information, except as required under applicable law.
About Soluna Holdings, Inc. (Nasdaq: SLNH)
Soluna is on a mission to make renewable energy a global superpower, using computing as a catalyst. The company designs, develops, and operates digital infrastructure that transforms surplus renewable energy into global computing resources. Soluna's pioneering data centers are strategically co-located with wind, solar, or hydroelectric power plants to support high-performance computing applications, including Bitcoin Mining, Generative AI, and other compute-intensive applications. Soluna's proprietary software MaestroOS(™) helps energize a greener grid while delivering cost-effective and sustainable computing solutions and superior returns. To learn more, visit solunacomputing.com and follow us on:
LinkedIn: https://www.linkedin.com/company/solunaholdings/
Soluna regularly posts important information on its website and encourages investors and potential investors to consult the Soluna investor relations and investor resources sections of its website regularly.
About Galaxy
Galaxy Digital Inc. (NASDAQ/TSX: GLXY) is a global leader in digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence. Galaxy's digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology. In addition, Galaxy invests in and operates cutting-edge data center infrastructure to power AI and high-performance computing, meeting the growing demand for scalable energy and compute solutions in the U.S. Galaxy is headquartered in New York City, with offices across North America, Europe, the Middle East, and Asia.
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Non-IFRS ratios are financial measures disclosed by an entity that are in the form of a ratio, fraction, percentage, or similar representation that has a non-IFRS financial measure as one or more of its components, and that are not disclosed in the financial statements of the entity. These non-IFRS financial measures and non-IFRS ratios are not standardized financial measures under IFRS and, therefore, are unlikely to be comparable to similar financial measures presented by other entities. Management believes these non-IFRS financial measures and non-IFRS ratios provide transparent and useful supplemental information to help investors evaluate Chemtrade's financial performance, financial condition and liquidity using the same measures as management. These non-IFRS financial measures and non-IFRS ratios should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with IFRS. 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Why we use the measure and why it is useful to investors: It provides useful information related to the capital spending and investments intended to grow earnings. Total of segments measures Total of segments measures are financial measures disclosed by an entity that (a) are a subtotal of two or more reportable segments, (b) are not a component of a line item disclosed in the primary financial statements of the entity, (c) are disclosed in the notes of the financial statements of the entity, and (d) are not disclosed in the primary financial statements of the entity. The following section provides an explanation of the composition of the Total of segments measures. 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Non-maintenance capital expenditures Represents capital expenditures, including unpaid amounts, that are (a) pre-identified or pre-funded, usually as part of a significant acquisition and related financing; (b) considered to expand the capacity of Chemtrade's operations; (c) significant environmental capital expenditures that are considered to be non-recurring; or (d) capital expenditures to be reimbursed by a third party. Cash interest Represents the interest expense on long-term debt, interest on Debentures, and pension plan interest expense and interest income. Cash tax Represents current income tax expense. Caution Regarding Forward-Looking Statements Certain statements contained in this news release constitute forward-looking statements within the meaning of certain securities laws, including the Securities Act (Ontario). Forward-looking statements can be generally identified by the use of words such as 'anticipate', 'continue', 'estimate', 'expect', 'expected', 'intend', 'may', 'will', 'project', 'plan', 'should', 'believe' and similar expressions. Specifically, forward-looking statements in this news release include statements respecting certain future expectations about: Its ability to obtain required regulatory approvals and to close the Polytec acquisition and the timing thereof; the Fund's intention to commence a new normal course issuer bid, its ability to obtain regulatory approvals and the timing thereof; its expectation that 2025 Adjusted EBITDA guidance will range between $475 million and $500 million; its expectation of strong unitholder returns, 5 to 10% annual growth in mid-cycle Adjusted EBITDA and Distributable cash after maintenance capital expenditures, and ability to have disciplined capital allocation and a continued focus on high-return growth investments; its expectation to grow its mid-cycle annual Adjusted EBITDA to between $550 million and $600 million of mid-cycle EBITDA by 2030; the Fund's expectation that Chemtrade is well-positioned to grow its mid-cycle Adjusted EBITDA and distributable cash by 5-10% annually; its ability to execute and continue generating long-term value for unitholders; the Fund's expectation of an implied Payout ratio for 2025 of approximately 40%, its expectation to achieve the second highest annual EBITDA in Chemtrade's history and the fourth consecutive year at the higher level of adjusted EBITDA; the expected stated range of maintenance capital expenditures and growth capital expenditures, lease payments, cash interest and cash tax; its ability to achieve the objectives of Chemtrade Vision 2030, namely its ability to grow mid-cycle annual Adjusted EBITDA to between $550 million and $600 million in mid-cycle EBITDA by 2030; its intention to continue to focus on operational and commercial excellence, as well as pursue organic and external growth; its expectation that its commitment to returning capital to unitholders while maintaining a prudent balance sheet will deliver compelling unitholder value; its intention to invest between $40.0 million and $60.0 million in growth capital expenditures in 2025 and its allocation among water treatment chemicals expansions, ultrapure sulphuric acid production upgrades, and other organic growth projects; the expected timing of commercial ramp-up of the Cairo project; its ability to be one of the first North American UPA plants to meet the quality requirements of the next generation semiconductor nodes; Chemtrade's ability to retain its position as a leading North American ultrapure sulphuric acid supplier to the semiconductor industry; its ability to effect a disciplined and balanced approach to capital allocation; its ability to carry out its strategy to prioritize long-term value creation by investing in strategic growth opportunities while delivering consistent and sustainable capital returns to unitholders; its intention to redeem the 6.50% convertible debentures due October 31, 2026 and the expected sources of funding to accomplish such redemption and its ability to lower interest costs as a result thereof. Forward-looking statements in this news release describe the expectations of the Fund and its subsidiaries as of the date hereof. These statements are based on assumptions and involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements for a variety of reasons, including without limitation the risks and uncertainties detailed under the 'RISK FACTORS' section of the Fund's latest Annual Information Form and the 'RISKS AND UNCERTAINTIES' section of the Fund's most recent Management's Discussion & Analysis. Although the Fund believes the expectations reflected in these forward-looking statements and the assumptions upon which they are based are reasonable, no assurance can be given that actual results will be consistent with such forward-looking statements, and they should not be unduly relied upon. With respect to the forward-looking statements contained in this news release, the Fund has made assumptions regarding: the stated North American MECU sales volumes and sodium chlorate production volumes; the 2025 MECU netback differing from 2024 by the stated amount; the stated average CMA NE Asia caustic spot price index; the stated U.S. dollar average foreign exchange rate; and the stated range of LTIP costs; the timing and completion of the Redemption; there being no significant disruptions affecting the operations of the Fund and its subsidiaries; the timely receipt of required regulatory approvals; no significant changes in global economic conditions. Except as required by law, the Fund does not undertake to update or revise any forward-looking statements, whether as a result of new information, future events or for any other reason. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. Further information can be found in the disclosure documents filed by Chemtrade Logistics Income Fund with the securities regulatory authorities, available at A conference call to review the second quarter 2025 results will be webcast live on Friday, August 15, 2025 at 10:00 a.m. ET. To access the webcast click here.
Business Wire
17 minutes ago
- Business Wire
ALT5 Sigma Corporation Appoints Jonathan Hugh as CFO
LAS VEGAS--(BUSINESS WIRE)--ALT5 Sigma Corporation (NASDAQ: ALTS)(FRA: 5AR1) (the 'Company' or 'ALT5'), a fintech and digital asset treasury (DAT) company specializing in turnkey, crypto-related solutions for institutions and merchants, today announced the appointment of industry veteran Jonathan Hugh as CFO of the company. Following ALT5 Sigma's recently announced $1.5 billion financing and the launch of the company's $WLFI Treasury Strategy, we are pleased to announce the appointment of Jonathan Hugh as Chief Financial Officer. His appointment further strengthens the company's leadership team at a pivotal stage in its growth. 'Jonathan is a highly accomplished senior executive with deep international experience across digital assets, commodity trading, and technology,' said Peter Tassiopoulos, CEO of ALT5 Sigma. 'His proven ability to scale high-growth businesses, combined with his expertise in financial strategy and global markets, will be invaluable as we accelerate the global expansion of our Crypto-as-a-Service platform and advance our $WLFI treasury initiatives.' Jonathan brings over 25 years of senior finance and commercial leadership experience in Digital Assets, Technology, Energy, and Commodities Trading, working with both public and private companies ranging from large-cap multinationals to agile high-growth ventures. He previously served as CFO of leading digital asset firms GSR International Ltd, a global market maker, and Zodia Custody Ltd, a regulated institutional custodian. Throughout his career, he has led numerous M&A transactions, executed multiple growth strategies and built robust financial control, compliance and reporting systems to support rapid innovation. Jonathan is a member of the Institute of Chartered Accountants of England and Wales and holds an MA in Law from Cambridge University. His appointment underscores ALT5 Sigma's commitment to attracting world-class leadership talent to drive execution of its strategic vision and deliver long-term value for shareholders. About ALT5 Sigma ALT5 Sigma Corporation (NASDAQ:ALTS)(FRA:5AR1) or (the 'Company') is a fintech, providing next generation blockchain-powered technologies for tokenization, trading, clearing settlement, payment and safe keeping of digital assets. Since June of 2025, the Company has been a member of the Russell Microcap Growth ®, Russell 3000E ®, and Russell 3000E Growth ® Indexes, as part of the 2025 Russell indexes reconstitution. The Company had previously been included in the Russell Microcap ® Index since June of 2024. The Company recently initiated a $WLFI Treasury Strategy, leveraging a portfolio of digital assets as a strategic component of its balance sheet. This initiative is designed to generate long-term value through disciplined acquisition and deployment of digital assets, while showcasing the Company's capabilities in digital asset payment solutions. The strategy not only strengthens the Company's financial position but also demonstrates the practical, institutional-grade application of its next-generation technology stack in real-world treasury operations. Founded in 2018, the Company provides next-generation blockchain-powered technologies to enable a migration to a new global financial paradigm. The Company, through its subsidiaries, offers two main platforms to its customers: 'ALT5 Pay' and 'ALT5 Prime.' ALT5 Sigma has processed over $6 billion USD in cryptocurrency transactions since inception. ALT5 Pay is an award-winning cryptocurrency payment gateway that enables registered and approved global merchants to accept and make cryptocurrency payments or to integrate the ALT5 Pay payment platform into their application or operations using the plugin with WooCommerce and or ALT5 Pay's checkout widgets and APIs. Merchants have the option to convert to fiat currency(s) automatically or to receive their payment in digital assets. ALT5 Prime is an electronic over-the-counter trading platform that enables registered and approved customers to buy and sell digital assets. Customers can purchase digital assets with fiat and, equally, can sell digital assets and receive fiat. ALT5 Prime is available through a browser-based access mobile phone application named 'ALT5 Pro' that can be downloaded from the Apple App Store, from Google Play, through ALT5 Prime's FIX API, as well as through Broadridge Financial Solutions' NYFIX gateway for approved customers. The Company is working on the separation of its biotech business that will move forward under 'Alyea Therapeutics Corporation.' Through its biotech activities, the Company is focused on bringing to market drugs with non-addictive pain-relieving properties to treat conditions that cause chronic or severe pain. The Company's patented product, a novel formulation of low-dose naltrexone (JAN123), is being initially developed for the treatment of Complex Regional Pain Syndrome (CRPS), an indication that causes severe, chronic pain generally affecting the arms or legs. The FDA has granted JAN123 Orphan Drug Designation for treatment of CRPS. About World Liberty Financial World Liberty Financial (WLFI) is a pioneering decentralized finance (DeFi) protocol and governance platform dedicated to empowering individuals through transparent, accessible, and secure financial solutions. Inspired by the vision of President Donald J. Trump, WLFI seeks to democratize access to DeFi by creating user-friendly tools that bring the benefits of decentralized finance to a broader audience. WLFI plans to be at the forefront of DeFi, offering an intuitive, robust platform that empowers users to participate actively in the financial future. Forward-Looking Statements This press release contains statements that are forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to the expected use of proceeds from the Offerings, the Company's expectation to initiate its $WLFI Treasury Strategy, the profitability and prospective growth of ALT5's platforms and business that may include, but are not limited to, international currency risks, third-party or customer credit risks, liability claims stemming from ALT5's services, and technology challenges for future growth or expansion, and statements regarding the Company's potential separation plans of its biotech business. This press release also contains general statements relating to risks that the Company's potential separation plans of its biotech business and the potential for JAN123 to treat CRPS, and other statements, including words such as 'continue', 'expect', 'intend', 'will', 'hope', 'should', 'would', 'may', 'potential', and other similar expressions. Such statements reflect the Company's current view with respect to future events, are subject to risks and uncertainties, and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, and social uncertainties, and contingencies. This press release also contains statements that are forward-looking in respect of the expected future partial or full disposition of the Company's interests in Alyea without specificity of the scope or methods thereof. Many factors could cause the Company's actual results, performance, or achievements to be materially different from any future results, performance or achievements described in this press release. Such factors could include, among others, those detailed in the Company's periodic reports filed with the Securities and Exchange Commission (the 'SEC'). Should one or more of these risks or uncertainties materialize, or should the assumptions set out in the section entitled 'Risk Factors' in the Company's filings with the SEC underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this press release and the Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by law. The Company cannot assure that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Individuals are cautioned that forward-looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.
